Dozens of unionized workers at the Momentive chemical plant in Waterford are taking advantage of cash buyouts to leave this year as part of a contract that helped settled a bitter strike there last spring.

Forty-eight workers at Momentive Performance Materials so far have accepted $40,000 lump-sum payments in exchange for retiring during this year, said Dominick Patrignani, president of IUE-CWA Local 81359, which represents about 700 workers.

The buyouts were part of a three-year contact reached in February 2017 that encouraged dozens of workers to leave that year by offering monthly payments toward retirement health insurance. Gov. Andrew Cuomo's office intervened to help end the 105-day strike, which was sparked by cuts proposed by the company in health care, 401(k) and other benefits.

Employees at the plant work with hazardous chemicals to make industrial adhesives and solvents. Located on Routes 4 & 32, the plant also operates its own hazardous waste incinerator.

Patrignani said workers taking the buyouts were some of the longest-tenured at the plant. The contract guaranteed the buyouts for up to 50 workers this year, and another 50 workers starting in 2019.

Momentive continues to hire new workers to replace those that are leaving, he added.

Asked about the buyout and hiring situation, Momentive spokesman John Kompa said the company is "pleased to have reached an agreement" with the union.

"Since then, we have returned the Waterford site to normal operations while continuing to serve our customers without interruption. We look forward to continuing to work with all of our employees, including our union-represented members, as we remain focused on building a stronger Momentive," Kompa said.